The Directorate General of Trade Remedies released its final findings on Monday, signalling a potential anti‑dumping duty that could reshape the domestic tableware market. The news sent Borosil's shares up 6% to ₹279.19, a 5.43% rise from pre‑market levels.
Investec estimates the duty could lift Borosil's FY28 earnings before interest, tax, depreciation and amortisation by ₹22 crore, assuming 50% of the price benefit is captured. The move would also improve margin profiles for its press‑ware operations.
The brokerage retained a ‘Buy’ rating and raised its target price from ₹265 to ₹330, citing the duty's potential to bolster earnings and reduce reliance on imports. It also nudged FY28 profit after tax up by 9%.
Borosil has been expanding its manufacturing footprint to replace Chinese imports, a strategy now underpinned by trade protection. The sector has seen a shift as domestic producers vie for market share amid tightening import policies.
The central government still needs to issue the formal anti‑dumping notification, so the duty's actual impact remains uncertain. Traders will watch the next filing for confirmation, while the company may adjust production plans based on the final ruling.